Note 4.Offering Costs and Organizational Expenses

The Fund will bear expenses relating to its offering of its Shares. Offering expenses include, without limitation, legal, accounting, printing and other offering costs including those associated with the preparation of a registration statement in connection with any offering of Shares.

Organizational expenses include, without limitation, legal fees related to the creation and organization of the Fund, its related documents of organization and its election to be regulated as a BDC.

For the three and six months ended June 30, 2026, the Fund incurred organizational and offering expenses of $0 and $2,716, respectively. The Fund reports offering costs as deferred offering expenses on the Statement of Assets and Liabilities. As of June 30, 2026, $326,230 of offering costs remain deferred, and will be amortized over a one-year period beginning on the date the Fund commences investment operations, which has not yet occurred. As of June 30, 2026, $461,895 of organizational and offering costs remain payable in the Statement of Assets and Liabilities.